$BTC The crypto markets are expected to undergo a roller coaster ride this week with FOMC, GDP, PCE, unemployment, and more on the horizon. These events are expected to induce some confidence among traders and also test Bitcoin’s resilience or rally. Therefore, it would be pivotal whether these events will catalyse a surge or retreat.

Meanwhile, the current bearish action is expected to prevail for some time to as low as $70,000 to $75,000, as predicted by Arthur Hayes, co-founder of Bitmex. However, the founder further states that this could be just a correction as the BTC price is pre-programmed to surge and mark a new ATH at $250K by the end of the year. Hence, the ongoing correction could be a temporary phase that could further trigger a strong crypto bull run, pushing the global market capitalisation beyond $4 trillion soon.